CIBC Asset Management Inc grew its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,744 shares of the company's stock after acquiring an additional 8,498 shares during the quarter. CIBC Asset Management Inc's holdings in Xcel Energy were worth $16,863,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of XEL. Ashton Thomas Securities LLC purchased a new stake in shares of Xcel Energy during the 3rd quarter worth about $25,000. Sierra Ocean LLC acquired a new position in Xcel Energy during the fourth quarter valued at approximately $26,000. Transcendent Capital Group LLC purchased a new stake in Xcel Energy during the third quarter worth approximately $33,000. Crews Bank & Trust acquired a new stake in shares of Xcel Energy in the fourth quarter worth $34,000. Finally, MCF Advisors LLC raised its stake in shares of Xcel Energy by 566.3% in the 4th quarter. MCF Advisors LLC now owns 593 shares of the company's stock valued at $40,000 after acquiring an additional 504 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.
Xcel Energy Stock Up 0.9 %
Shares of NASDAQ:XEL traded up $0.62 during midday trading on Friday, reaching $69.94. The company had a trading volume of 2,379,381 shares, compared to its average volume of 3,399,202. The stock has a market capitalization of $40.16 billion, a P/E ratio of 20.33, a PEG ratio of 2.61 and a beta of 0.43. The stock's fifty day moving average price is $67.09 and its 200-day moving average price is $65.63. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $73.38.
Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Equities research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.
Xcel Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th were issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Monday, January 6th. Xcel Energy's dividend payout ratio is presently 63.66%.
Wall Street Analysts Forecast Growth
Several research firms have commented on XEL. Morgan Stanley cut their price objective on Xcel Energy from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company increased their target price on Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Jefferies Financial Group raised Xcel Energy from a "hold" rating to a "buy" rating and boosted their price target for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. KeyCorp increased their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of Xcel Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.91.
Read Our Latest Research Report on XEL
Xcel Energy Profile
(
Free Report)
Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.
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